Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Otto orally agrees to install three wells for Green Space Energy over the next eighteen months. When the three wells are completed, Green Space Energy

Otto orally agrees to install three wells for Green Space Energy over the next eighteen months. When the three wells are completed, Green Space Energy will pay Otto $10,000. After the first well is completed, Green Space Energy tells Otto that it does not want any more wells. Green Space Energy refuses to pay Otto for the first well, claiming that the contract was not in writing and, therefore, not enforceable. If Otto sues Green Space Energy to enforce the contract: Green Space Energy will not have to pay Otto anything because the contract was for real estate. Green Space Energy will have to pay Otto a reasonable price for the one well that was installed. Green Space Energy will not have to pay Otto anything, because the contract could not be completed within one year. Green Space Energy will have to pay Otto the full contract price because Green Space Energy breached the contract

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Entrepreneurship

Authors: Andrew Zacharakis, William D Bygrave

5th Edition

1119563097, 9781119563099

More Books

Students also viewed these Law questions

Question

Why aren't fixed costs relevant for most short-term decisions?

Answered: 1 week ago

Question

The fear of making a fool of oneself

Answered: 1 week ago

Question

Annoyance about a statement that has been made by somebody

Answered: 1 week ago